By Invitation Only

[Operational needs]

Good morning!

 

[Future]

View attachment 137313

Good morning!

Morning OP..... how r you?

 

[UpstateNYUPSer(Ret)]

They are all crap holes. Be sure to put the max allowed away for final expenses before going in.

With all due respect this is about the worst advice that you could have given.

The ideal is to protect your assets before going in. How do you do that? Transfer anything and everything you have to a trusted family member at least 5 years before you anticipate having to go in to a nursing home or assisted living center.

 

[Operational needs]

Morning OP..... how r you?

Fantastic! You?

 

[Future]

With all due respect this is about the worst advice that you could have given.

The ideal is to protect your assets before going in. How do you do that? Transfer anything and everything you have to a trusted family member at least 5 years before you anticipate having to go in to a nursing home or assisted living center.

Good advice

 

[UpstateNYUPSer(Ret)]

What are the limits of coverage on that? Doesn't sound too unreasonable.

Last time I checked the coverage for daily expenses was between $200-250.

The key is to get the policy while you are still fairly young as the premiums increase dramatically the older you get.

 

[Future]

Fantastic! You?

Doing well ...Thank You ...relaxing somewhat on all fronts

 

[UpstateNYUPSer(Ret)]

Good advice

Thanks. My brother and I had a crash course in protecting assets from Medicaid. We were able to "hide" just under $100K in assets prior to putting our father in to the home. We were self pay for the first few months as we had to wait before applying for Medicaid. Self pay was around $8K/month.

 

[UpstateNYUPSer(Ret)]

That would have only covered 6 months for my stepfather.

Would have been 8 months for my father.

 

[UpstateNYUPSer(Ret)]

I will say this the one my FIL is in is like a damn country club he has his own apartment.they do the laundry and clean there's a pub a gym with tons of equipment an indoor and out door swimming pool ( not a pretty sight) cost him a fair amount to move in and they take his SS check. He's a retired school administrator so he's got a sweet pension.
It's worked out well for him

Old sob even has a girlfriend
WTF!!

Sounds more like an assisted living facility or retirement community than a nursing home.

My ex MIL lives in a very nice retirement community and had a similar buy in deal. She is fortunate in that her late husband was a triple dipper and she is a double dipper so she is not hurting for money.

 

[UpstateNYUPSer(Ret)]

We have long term care insurance and have had it since our late 20's.......not so expensive when you get it early.
It's a bitch to have to put anyone in those places........their safety is the goal.

I call BS on getting a LTC policy in your late 20's. Most people in their late 20's have not even begun to think about their retirement, let alone long term care.

 

[oldngray]

Thanks. My brother and I had a crash course in protecting assets from Medicaid. We were able to "hide" just under $100K in assets prior to putting our father in to the home. We were self pay for the first few months as we had to wait before applying for Medicaid. Self pay was around $8K/month.

My old neighbors ended up in nursing homes on Medicaid, and yes all of their assets were taken before the Medicaid kicked in. Just enough to provide minimal care in a lousy nursing home.

 

[Future]

Sounds more like an assisted living facility or retirement community than a nursing home.

My ex MIL lives in a very nice retirement community and had a similar buy in deal. She is fortunate in that her late husband was a triple dipper and she is a double dipper so she is not hurting for money.

Off the cuff question ...do you still speak with her?

 

[UpstateNYUPSer(Ret)]

Nope that's the good part. Don't have to watch them take everything she has, because she has nothing. Lol.

What little she may have had could have been protected.

 

[Future]

My old neighbors ended up in nursing homes on Medicaid, and yes all of their assets were taken before the Medicaid kicked in. Just enough to provide minimal care in a lousy nursing home.

That sucks

 

[Future]

My old neighbors ended up in nursing homes on Medicaid, and yes all of their assets were taken before the Medicaid kicked in. Just enough to provide minimal care in a lousy nursing home.

I thought you shot all your neighbors by now...LOL

 

[UpstateNYUPSer(Ret)]

Off the cuff question ...do you still speak with her?

Yes; in fact, my son, who was here all week on vacation, and I took her out to dinner on Wednesday. We are both movie buffs and let each other know when there is a good movie playing.

 

[UpstateNYUPSer(Ret)]

I thought you shot all your neighbors by now...LOL

He likes to spend his time spying on them through the blinds.

 

[oldngray]

He likes to spend his time spying on them through the blinds.

I don't have blinds in my living room. Heavy curtains and sheers.

 

[Future]

Yes; in fact, my son, who was here all week on vacation, and I took her out to dinner on Wednesday. We are both movie buffs and let each other know when there is a good movie playing.

I think that is cool... had a feeling it was like that with u